The federal government ran a $777 billion deficit for the first six months of fiscal year 2012, theCongressional Budget Office estimated on Friday, including a $196 billion hole in March, marking the 40th straight month of deficits.
That streak goes back to the financial collapse under President George W. Bush, and means the government has never run a surplus in any month during President Obama’s tenure. The longest previous deficit streak on record was 11 months.
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